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Key Insights:
- Ethereum ETF volumes reached 80% of Bitcoin ETF volumes, highlighting growing institutional preference for Ethereum.
- Ethereum ETFs absorbed 79,025 ETH on Monday, 33 times more than the 2,391 ETH newly issued.
- While Bitcoin ETFs saw $131 million in outflows, Ethereum ETFs recorded a 12-day inflow streak totaling over $3.5 billion.
Inflows into spot Ethereum ETFs have skyrocketed as US issuers scooped another $300 million worth of ETH on Monday. BlackRock iShares Ethereum Trust (ETHA) saw $100 million worth of inflows, while its Bitcoin ETF (IBIT) saw zero inflows yesterday. This shows that institutional sentiment for ETH remains strong while BTC flips negative, for the first time since July 1.
BlackRock Scoops 27,235 ETH Amid Strong Ethereum ETF Inflows
Inflows into spot Ethereum ETFs remain strong, with another $300 million recorded on Monday, across all US ETF issuers. BlackRock’s iShares Ethereum Trust (ETHA) alone scooped more than 27,200 ETH worth over $100 million. The ETHA share price surged another 5.2% to $28.32 on Monday. The stock is already up by 23% on the weekly chart, and 61% on the monthly chart.
The total volume of ETHA shares traded on Monday was $2.2 billion. As a result, it clocked nearly 70% of the trading volumes seen by BlackRock’s iShares Bitcoin Trust (IBIT).
Furthermore, net inflows across all US ETF issuers stood at 298.06 million yesterday. This marks their highest volume trading day to date. Notably, ETH ETF trading volume accounted for 80% of total Bitcoin ETF volume, signaling surging institutional interest in the second-largest cryptocurrency by market cap.
Despite BlackRock’s ETHA dominating the most flows during the last few weeks, it was not the top performer on July 21. Fidelity Ethereum ETF (FETH) saw the largest inflows at $126.9 million on Tuesday, thereby taking its net inflows to more than $2 billion since inception. BlackRock ETHA is miles ahead of its competitors with more than $8.15 billion in inflows since inception.
Ethereum ETF Inflows Continue Amid Strong Institutional Demand
According to ETF Store President Nate Geraci, spot Ethereum ETFs have now recorded 12 consecutive days of inflows. Thus, over $3.5 billion in net new capital entered the products.
Remarkably, five of the ten largest daily inflows since the ETFs launched have occurred within the past two weeks. This signals accelerating investor demand amid growing institutional confidence in Ethereum.
Ethereum’s supply-demand dynamics showed a major divergence today, with spot ETFs absorbing dramatically more ETH than the network issued. Data shows net new ETH issuance stood at approximately 2,391 ETH (worth $8.8 million), while spot Ethereum ETFs saw net inflows of around 79,025 ETH (roughly $297.2 million). That’s a 33x multiple, indicating intensifying demand from institutional investors amid constrained supply.
On the other hand, net flows into spot Bitcoin ETFs flipped negative, for the first time since July 1. Spot Bitcoin ETFs, across all US ETF issuers, saw outflows of $131 million on Monday. Ark Invest’s ARKB saw the most outflows at $77 million. It shows shifting institutional sentiment from BTC to ETH.
ETH Price Selling Pressure
ETH price has come under strong selling pressure to break past $4,000. After 25% upside during the last week, Ethereum is seeing some pullback, trading 4.2% down at $3,642, with a market cap of over $439 billion.
Ethereum (ETH) is witnessing renewed investor interest, with the number of first-time buyers rising by 16% since the beginning of July. Furthermore, institutional interest from players like SharpLink Gaming, Bitmine Technologies, etc., is also rising.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
